... above, make incorpo-24 | INCORPORATE YOUR BUSINESS them for a gain—that is, for more than $1 per share—and get taxed at capital gains rates that are lower than normal individual income tax ... as well as business corporation statutes in a consoli-dated General Corporation Act.) See Appendix A for information about locating corpo rate laws.• A criticalpartofformingandoperating a nonprot ... states (Arizona, California, Idaho, Louisiana, Nevada, New Mexico, Texas, Washington, and Wisconsin), they have the option of treating their business as a sole proprietorship. ey do this by...